![VelvetRope1[2]](http://kevinonthestreet.com/wp-content/uploads/2013/11/VelvetRope12-200x140.jpg)
The CFTC issued a slew of new guidance and rules last week, two of them particularly interesting and impactful. First was the rule that requires clearinghouses to have credit facilities available to back up all margin posted in US Treasuries. I (and pretty much every one else in the market) think this is ridiculous. If […]
Forgive me if I’m stating the obvious for some of you, but I’ve had this conversation more than once and felt some clarity was in order here. As we work through the made available to trade (MAT) process, it’s important to reemphasize what actually will be required on mandatory SEF trading day 1. It all […]
I recently spoke with Ryan Sheftel who runs fixed income electronic market making for Credit Suisse. CS is taking its experience from building AES in the equities market to fixed income, leading to some pretty cool trading tools.
My conversation with Telis Demos at the Financial Times in NY; we discuss dealer profitability following derivatives reform and how electronic trading could ultimately lead to higher profits. (Click the image below to watch.)
When automated market-making meets an already liquid market backed by real money trades, arbitrage opportunities quickly follow, which is the direction most liquid portions of the swaps market are moving. Even in this pre-regulation implementation time that continues to linger, adoption of electronic trading is finally starting to gain momentum. Data from Bloomberg, CreditEx and […]
Defining a “block trade” in the swaps market is one of the many jobs of the regulators in the next few months. As this story points out, average trade sizes for swaps change drastically based on product and market conditions making it pretty difficult to set a single number. Maybe more important is the reporting […]
The Flash Crash may very well be talked about more these days than the credit crisis. Not only is it an area of interest for regulators and traders but technologists as well. IET takes a look at the issue from a technology perspective in this article. ‘It seems to be more of a market structure […]
This is the first announced equity swap focused SEF I’ve come across. The people at the help of this company come from Goldman Sachs electronic trading and have an interesting approach that is worth keeping an eye on. I’m sure there will be many more SEF announcements to come in the the next few months, […]
I created this video while I was in Hong Kong last week for Trading Architecture Asia. The audio isn’t that great unfortunately, so we’ve transcribed the commentary which you see below (its also on TabbFORUM). …and the transcription: This week I’m in Hong Kong for Trading Architecture Asia 2010. If it’s a sign, almost every […]